Rating action          MARC Ratings has affirmed its rating on port operator Pelabuhan Tanjung Pelepas Sdn Bhd’s (PTP) RM2.15 billion Islamic Medium-Term Notes (Sukuk Murabahah Programme) at AAIS. The rating outlook is stable. RationaleThe rating affirmation is driven by PTP’s strong position as the operator of a key container transhipment port in the region ...

Rating action          MARC Ratings has assigned a preliminary short-term rating of MARC-1IS to OCK Group Berhad’s (OCK) proposed Islamic Commercial Papers (ICP) Programme of RM500.0 million in nominal value. The rating agency has concurrently affirmed its AA-IS/Stable rating on OCK’s RM400.0 million Tranche 1 Sukuk Murabahah under its RM700 million Sukuk Murabaha...

Rating action          MARC Ratings has affirmed its AAIS rating on Kimanis Power Sdn Bhd’s (KPSB) outstanding RM400.0 million Sukuk Programme with a stable outlook. KPSB owns a 285MW combined-cycle gas-fired power plant with three generating blocks (GB) in Kimanis Bay, Sabah.  RationaleThe plant has performed well since 2015 (its second year of operations...

Rating action          MARC Ratings has affirmed its AA-IS and A- ratings on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (Kesturi) RM2.3 billion Sukuk Musharakah (Senior Sukuk) and RM180 million Redeemable Secured Junior Bonds (Junior Bonds). The outlook on both ratings is stable. The rating differential between the Senior Sukuk and Junior Bonds reflects the lat...

Rating action          MARC Ratings has affirmed its AA-IS rating on Sinar Kamiri Sdn Bhd’s outstanding RM185.0 million Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah. The rating outlook is stable. RationaleThe rating affirmation reflects Sinar Kamiri’s stable operational performance, steady cash flow generation and adequate finance service ...

Rating action          MARC Ratings has affirmed its AA-IS rating on Quantum Solar Park (Semenanjung) Sdn Bhd’s (QSP Semenanjung) outstanding RM750.0 million Green Sustainable and Responsible Investment (SRI) Sukuk with a stable outlook. QSP Semenanjung owns three 50MW power plants located in Gurun, Kedah; Jasin, Melaka; and Merchang, Terengganu.RationaleThe ra...

Rating action          MARC Ratings has assigned a rating of A-IS  to Yinson Holdings Berhad’s RM1.0 billion Subordinated Perpetual Islamic Notes Programme (perpetual sukuk). Concurrently, the rating agency has affirmed the existing A+IS rating on the group’s RM1.0 billion Islamic Medium-Term Notes (IMTN) Programme (senior sukuk). The two-notch rating differe...

Rating action          MARC Ratings has affirmed its AA-IS rating on Tanjung Bin O&M Berhad’s outstanding RM165.0 million Sukuk Wakalah with a stable outlook.     Rationale      The rating reflects the credit strength of Tanjung Bin O&M’s parent, Malakoff Power Berhad (MPower) (AA-IS /Stable), which has provided an unconditional an...

Rating actionMARC Ratings has affirmed its AAAIS  rating on TNB Power Generation Sdn Bhd’s (TPGSB) Sukuk Wakalah Programme of up to RM10.0 billion with a stable outlook. As at end-November 2023, the outstanding amount under the programme stood at RM3.5 billion.      Rationale      TPGSB is a wholly-owned energy generation arm of Tenaga Nasional Berhad...

Rating action           MARC Ratings has assigned preliminary ratings of MARC-1IS/AA-IS  to Malakoff Power Berhad’s (MPower) proposed Islamic Commercial Papers/Islamic Medium-Term Notes (ICP/IMTN) programmes of up to RM1.2 billion. The outlook on the IMTN programme is stable. Concurrently, the rating agency has also affirmed its AA-IS rating on MPower’s outst...